Ms. Carolyn Muir reports

AURANIA RESOURCES LTD. PROVIDES AN UPDATE ON ITS NON-BROKERED PRIVATE PLACEMENT

In accordance with the requirements of the policies of the TSX Venture Exchange, Aurania Resources Ltd. has provided an update on the status of the non-brokered financing by way of a private placement of the company's units at $2 per unit for the gross proceeds of up to $4-million, subject to the option of the company to offer an additional 500,000 units, initially announced in the company's June 1, 2018, news release. Each unit offered pursuant to the offering consists of a common share of the company and one-half a common share purchase warrant. Each whole warrant is exercisable into a common share at $3 per common share for 18 months following the issuance.

As subsequently announced on June 29, 2018, the company has completed the first tranche of the offering by placing two million units for the gross proceeds of $4-million. Due to a continuing interest, the company exercised an overallotment option, thereby increasing the maximum size of the offering to 2.5 million units in total. The company is pleased to confirm that it anticipates closing the second tranche of the offering of up to 500,000 units in the coming weeks.

About Aurania Resources Ltd.

Aurania is a junior exploration mining company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities -- Cutucu project, is located in the Jurassic metallogenic belt in the eastern foothills of the Andes Mountain Range of southeastern Ecuador.

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